Everybody experiences the adverse impacts of climate change, no matter how little. The earth loses over a trillion tons of ice yearly due to global warming. In regions without snow, temperatures rise, and rain patterns become unpredictable. The only solution to these problems is to adopt green energy sources, such as solar panels.
Solar panels are gaining popularity for many reasons, but mainly because of their practicality. It is easier to purchase and install solar modules than other renewable energy sources like wind turbines, geothermal and hydroelectric.
Besides, solar energy systems have several other benefits. Read on to discover why now is the best time to install solar.
Instant Savings
Postponing solar panel installation means continuing to pay electricity bills. Given that the cost of electricity is ever increasing due to growing demand, you’ll unlikely save little or no money as time progresses.
Installing a solar energy system guarantees an instant increase in savings. For instance, if your house spends $100 monthly on electricity, you can redirect the money to other projects by adopting solar energy. Even if you take a loan to purchase your solar energy system, it’s easy to repay.
Once you recoup the money used to purchase your solar equipment, the system will continue earning you money for up to 25 years. After 20 years, you could have more than $50,000 in your account. So there’s no excuse for delaying – installing solar panels now guarantees economic security in the future.
Affordability
Solar panels aren’t a new invention. The low adoption rates in the past were mainly due to the high costs.
The average solar panel cost has reduced by 70% over the last decade. This reduction will prompt more people to purchase the modules, as the price is crucial when choosing a domestic renewable energy source.
Moreover, solar technology is advancing and resulting in more efficient equipment. Modern panels require little maintenance and generate enough power, even in low-light conditions. After installation, all you need to do is wipe the surface to remove dirt and debris, as these reduce panel efficiency. This means you won’t spend money on maintenance for decades.
Financial Incentives
If you can’t raise enough money to purchase a solar energy system outright, you can apply for a low-interest green loan. Several financial institutions offer loans with friendly interest rates, provided you use the money to acquire a green energy source like solar panels.
Alternatively, you can acquire a solar energy system from leasing companies. In this case, the company gives you a complete system for an initial deposit, followed by weekly or monthly instalments. It’s worth noting that you don’t own the system until you complete payment. Regardless, it suits those who want to enjoy the benefits of solar but don’t have the money for an outright purchase.
Now is the best time to turn solar because of the above-mentioned financial options. Other incentives include the tax credits and rebates offered by state governments. However, these are decreasing as panels gain more popularity. For instance, Australia’s Small Technology Certificates (STCs) reduce by 7% yearly.
Environmental Conservation
Overreliance on fossil fuels is the leading cause of climate change through greenhouse emissions. If you want to reduce your carbon footprint, adopting solar energy is best.
Solar is a sustainable energy source. Unlike fossil fuels, it emits zero gases into the atmosphere. It only affects the environment during the factory production of photovoltaic cells and batteries.
Additionally, solar panels don’t require water to produce energy. On the contrary, coal, gas, and nuclear power plants require a lot of water for cooling, hurting an area’s water supply. Dependence on the water means that outages are more prevalent during dry seasons.
Therefore, switching to solar is the best way to make the world a better place now and in the future.
Reliability
Owning a solar energy system gives the comfort of knowing you’re in control of your power consumption needs. Specifically, it gives you independence from grid-based electricity. This protects you against unannounced outages and energy crises.
Thanks to technological advancements, owning an autonomous solar energy system is now possible. Solar panels are more efficient – modern panels can convert up to 25% of absorbed sunlight into electricity. This is a significant improvement from the 12% efficiency of panels before the 2010s.
If you purchase and install solar panels, you can convert sunshine into energy to power your home. You can invest in batteries to provide backup and store energy for use during nighttime. You can sell the surplus energy produced if your solar system generates extra power.
Foreign Exchange Rates Uncertainty
Nobody’s sure about the global political and economic scene. But how does this affect solar panels and accessories? Most solar equipment is manufactured in Europe and China. Therefore, exchange rates, which are significantly influenced by politics and global economics, dictate the price of solar panels.
It’s advisable to purchase solar panels now to escape the volatility of the forex markets. You can find yourself saving hundreds of dollars by ordering your equipment instead of playing the waiting game.
Increased Home Value
Solar panels can increase value and help you sell your property faster. The new owner envisages the benefits of going solar, such as reduced electricity bills, reliability, and environmental conservation. These make the prospect of living in the house more appealing and more likely to match your asking price.
What’s more, it’s becoming easier to transfer leased solar power systems to the new owner. In the past, you had to complete payment to make such transfers possible.
Wrapping Up
Solar panels are taking the world by storm – almost every homeowner wants a piece of this technology on their property. Why? Solar panels are affordable, efficient, and save thousands of dollars yearly. More importantly, adopting solar energy makes the world a better place by combating climate change.
Going solar is easier than you think. If your roof is in a good condition, you only need money to purchase the system. Several institutions offer low-interest loans on renewable energy products if you don’t have enough cash.